Manali Petrochemicals Ltd completes the sale of its step-down subsidiary, Notedome Limited, to C.O.I.M. S.p.A

Manali Petrochemicals Limited. has completed the sale of its wholly owned step-down subsidiary, Notedome Limited, to C.O.I.M. S.p.A. - Chimica Organica Industriale Milanese ("C.O.I.M.") on November 17, 2025, for a total consideration of approximately £21.17 million (approx. INR 247 crores).

All necessary regulatory approvals were secured following the announcement of the Share Purchase Agreement on October 20, 2025.

The divestment is part of Manali Petrochemicals strategic portfolio restructuring, aimed at sharpening its focus on its core businesses related its polyols product portfolio and derivatives, within the Indian market. As part of the agreement, Manali Petrochemicals will continue to market its cast elastomers in India under a new trademark.

With this strategic acquisition, C.O.I.M. strengthens its international presence in the polyurethane systems sector and further expands its product and service capabilities in key European markets.

Mr. Ashwin Muthiah, Chairman of MPL and Founder Chairman of AM International, Singapore, said: "MPL is happy to announce that we have divested our PU Elastomer business of Notedome to optimize MPL portfolio in line with the future strategy of the organisation. This move allows MPL to strategically focus our capital, talent, and R&D efforts on the current, high-growth market segment products with robust and scalable demand - in Automotive, Cold Chain, Construction, Footwear as well as Propylene Glycol derivatives. This also gives MPL the flexibility to go for further Global M&As in more aligned sectors"

Mr. Giuseppe Librandi, CEO of C.O.I.M. S.p.A. - Chimica Organica Industriale Milanese, commented "This acquisition marks an important step in C.O.I.M.'s international growth strategy, strengthening our presence in the polyurethane systems business and expanding our technological and production capabilities in Europe. Notedome's expertise and strong reputation in cast elastomers perfectly complement C.O.I.M.'s portfolio and culture of innovation."

Shares of Manali Petrochemicals Limited was last trading in BSE at Rs. 68.15 as compared to the previous close of Rs. 68.17. The total number of shares traded during the day was 20336 in over 184 trades.

The stock hit an intraday high of Rs. 69.50 and intraday low of 67.93. The net turnover during the day was Rs. 1391144.00.

Source : Equity Bulls

Keywords

ManaliPetrochemicals INE201A01024 Sale Notedome COIMSpA